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Property News16 May 2018

21 of 30 New Futura units sold over weekend

ST 20180516 BIZYOFUTURA 3988291

The upmarket New Futura condo has sold 21 of the 30 units released over the weekend at its 60-unit North Tower.

They were snapped up at an average price of around $3,500 per sq ft (psf), said developer City Developments Limited (CDL) yesterday.

Most of the buyers in this second-phase soft launch were permanent residents (PRs) and foreigners, who targeted the larger apartments of up to $10 million each.

CDL, which began previews on May 11, said it has also seen "robust demand" for the 64-unit South Tower that was soft launched in January. It has sold 62 apartments, or 97 per cent, at an average price of around $3,350 psf. This included the 7,836 sq ft penthouse, which went for $36.28 million or $4,630 psf.

CDL said 72 per cent of the buyers were foreigners and PRs, mainly from Asia, including China, Indonesia, Malaysia and Korea.

North Tower's penthouse, which is the same size as the one at South Tower, remains unsold.

The freehold New Futura in Leonie Hill Road in prime District 9 has 124 units in all.

Besides the two five-bedroom penthouses, it has 28 two-bedroom units of 1,098 sq ft to 1,367 sq ft, and 54 three-bedroom units of 1,830 sq ft. There are also 20 four-bedroom units of 2,250 sq ft and another 20 of 2,691 sq ft with higher ceilings in the dining area.

All units have private lift access, and the penthouses come with a 13m-long private pool, a sauna and a shower by the pool deck.

There is also a two-level basement carpark with more than 250 parking spaces.

"The Singapore residential market has continued to show promising signs of recovery," CDL group general manager Chia Ngiang Hong said in a statement.

"Propelled by pent-up demand, sales volumes are strengthening and property prices are trending up, especially for high-end projects with strong value proposition.

"Foreigners are also returning to invest in Singapore's high-end property market, given the city's attractiveness, economic stability, price recovery and value."

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Property News 23 May
HDB puts on sale 3,970 BTO flats in Sengkang, Yishun, Toa Payoh and Tampines

THE Housing Board (HDB) launched 3,970 Build-To-Order (BTO) flats across four projects in Sengkang, Yishun, Toa Payoh and Tampines on Tuesday, in the second such exercise this year.

Prices without grants range from S$76,000 for a two-room Flexi flat in non-mature estate Yishun, to more than S$422,000 for a five-room flat in mature estate Tampines.

About 17,000 BTO flats are expected this year.

Property News 21 May
Buyers snap up 70 units at Le Quest Phase Two launch on Saturday
SINGAPORE - Le Quest, a Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok, sold 70 units on the first day of its Phase Two sales. Qingjian Realty has offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview.
Property News 21 May
Chinatown Plaza sells en bloc for $260m

Chinatown Plaza has been sold for $260 million to a property unit affiliated to Singapore-based RGE (Royal Golden Eagle), the pulp and paper and palm oil giant founded by Sukanto Tanoto.

The price translates to a land rate of $1,915 per sq ft per plot ratio (psf ppr), said Edmund Tie & Company, which handled the collective sale.

Located in Craig Road, Chinatown Plaza has a land area of 33,953 sq ft and is zoned for commercial and residential use. The site has the potential to be redeveloped up to its existing gross floor area of 135,742 sq ft.

Property News 18 May
SRX launches home loan platform

Real-estate services provider SRX has launched a home loan platform that promises to help borrowers ease the task of filling up forms.

SRX said yesterday that its myHome Finance service can do that by tapping MyInfo, a service by the Singapore Government that allows users to manage personal data when transacting online with government agencies and commercial entities.

The use of MyInfo will allow myHome Finance to automatically complete most of the fields required in loan applications, SRX said.

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